30 Hot Businesses Ideas in Nigeria to Invest in 2020

hot business ideas in nigeria

There are some very cool business ideas in Nigeria that have not been fully tapped. Nigeria has a huge unemployment problem. Luckily the country has numerous opportunities for small businesses to thrive. However, some people might complain about the lack of capital.

The good news is that some of these ideas do not require many funds. You can even start some with at least N10,000 thereby making it possible for any interested person to start a business. Now that we have caught your attention, here are the top 30 small business ideas in Nigeria in no particular order.

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Hot Business Ideas in Nigeria to Invest In

Poultry Farming

Nigerians consume tons of meat and eggs in their homes, eateries and other hangout spots. They even enjoy poultry at the regular Saturday Owambe party thereby making it a highly sought commodity. Overall, it comes as a profitable business idea to start within your location

It does not require much capital while you can sell many products from your farm. These include eggs, frozen poultry meat and even the day-old chicks of the birds.

Scrap Metal Business

This idea has a reputation for looking untidy and messy. But it stands as one of the top ideas to rake in profits especially within a short period. Like most great ideas, it does not require much capital and skills.

Start by employing hands to find and collect the metal. You could even set up a location where people get paid to recycle their metal waste. Then you sell the items as raw materials to companies that create metal goods.

Mobile Food Vendor

Millions of people in big cities do not have time to make breakfast. After all, they will have to avoid traffic and the stress of getting work. But with a mobile food wagon or truck, they can grab breakfast on the move before reaching their offices.

Car Hailing/ Taxi Business

People move daily even on sleepy weekends. However, some Nigerians do not have cars while others find commercial buses uncomfortable. So, with if you have a vehicle and register with either Uber or Bolt, then you can start your transport business with ease. A very smooth way to make money provided you have the time, one of the top business ideas in Nigeria.

Home Tutoring Services

Some subjects can be frustrating especially the sciences. But if you have a perfect grasp of these courses and a knack for teaching, you can start home tutorial service. Here, you can tutor students in various courses for a specified fee.

Catfish farming

If you want another profitable small business, consider catfish farming. Apart from a low startup cost, it does not demand much space. You can even learn the ropes of the business within a short period.

Real Estate Agency

Do you have enviable networking skills? Can you connect prospective tenants/buyers with landlords who have properties for sale? If yes, you can start a real estate agency and make as high as six figures from commissions.

Logistics Services

With the growth in online vendors and stores, entrepreneurs will have to transport goods to their buyers. To gain from this situation, you can act as a third-party logistics service to any of these stores. However, you should carry out some research especially if you prefer this line of business.

Photography Services

Nigerians love great photographs. They will also pay good money to photographers that can create exciting images.

Even if you don’t know how to use a camera, you can learn the required skills from online videos. With excellent marketing skills, you can earn a favourable income from this business.

Creche/ Day Care Services

Are you great with kids? Do you love taking care of children? If yes, consider running a daycare service to help busy people take care of their young ones. However, you will have to ensure that your creche maintains a high standard of hygiene and security.

Event Planning Services

Every weekend, Nigerians celebrate various occasions across the country. Most times; they might require the services of an event planner particularly if they want the ceremony to run smoothly.

If you have top-notch planning skills, you can test try your hands at this business. You should also advertise your services to your loved ones, neighbours and acquaintances. With a few excellent jobs, your business will grow via constant referrals.

Plumbing service

Running a plumbing firm can rake in massive income to your savings. After all, the current numbers of these professionals cannot meet the rising demand. So if you are good with your hands and pipes, you can set up a plumbing business.

Snail Farming

Few businesses require little capital and space as this venture. Besides, you can sell the snails at prices that ensure high profits. You can even use your backyard as a starting point for the business.

Driving School Business

Many people are interested in driving especially as various companies and establishments require this skill. If you are a good driver with excellent teaching skills, you can set up a driving school.

Before starting this business, you will need a few vehicles and proper certification from the local authorities in your location.

Dog Breeding Business

Breeding exotic dogs for sale stands as one of the most profitable businesses in Nigeria. You can go with preferred choices such as Dobermans, Caucasians, and Alsatians. However, you will have to budget some cash for purchasing the parent animals.

Livestock feed production

With the high rise in livestock farming, running a company that produces feed for livestock stands as a profitable idea. With this move, you will be catering to the needs of numerous farmers in your location

Janitorial Services

Many professionals do not have the time to clean their homes. Furthermore, employing maids might not be a safe idea. However, a janitorial business that offers home cleaning services stands as a viable option.

You can start this business with a team of cleaners. But you will also need a supervisor to monitor their activities in your customer’s homes. You can also extend your business by offering to clean office buildings and other facilities.

Mini importation

With the rise in e-commerce, you can order gadgets, clothing, and accessories from foreign vendors at cheap rates and sell for a profit in Nigeria. But before you choose the business, try to research hot selling items in your location.

Bread Making Business

Few Nigerian meals go without this baked food which means huge profits for bakeries across the nation. With enough capital and proper planning, you can have a lucrative bakery.  You can handle the competition by offering special types of bread and delivery vans.

Barbing Salon / Hair Dressing Studio

Looking good is good business so many Nigerians troop these places for a hairdo or haircut. You’ll only need a good location, a well-equipped store, and expert stylists to get your business running.

Employment Agency

For the unemployed and underemployed, finding jobs require frustrating hours of visiting job sites or offices. But if you have proper networking skills, you can connect job seekers with their potential employers (for a fee). Begin with small businesses in your locale before moving to larger establishments.

Water Bottling/ Sachet Water Production

Producing portable water in bottles or sachets offers huge profits because everyone drinks water. Ensure you get a hygienic location and materials. You should also have proper certification from the concerned authorities in your area.

Drycleaning business

You can also dry clean the laundry of people in your area. To add an edge, offer pickup and delivery services to your clients. This is a great business idea with which you can tap in your street and make money.

Drug Store

Are you a registered pharmacist? Then you can take up this business without any worries. For non-pharmacists, they should partner with professionals to get started. With quality drugs and a good location, you should get numerous customers within a short period.

Recharge card business

Selling airtime vouchers to large scale retailers can make you smile to the bank. As soon as the numbers of your clients increase, you can count as much as six figures.

Electrical Service Provider

It’s a common thing to have an electrical problem in any building. To cash out from this scenario, you can set up an electrical service team in your area.

Catering Services

If you have great cooking and organizational skills, consider setting up a catering service. This is one of the top business ideas in Nigeria which stands as a lucrative one due to the huge number of celebrations and events that occur daily.

Fashion Design

Many people are moving into this line of business because it is fun and lucrative nature. With proper advertising and raw talent, you can record huge profits. It is very popular with the female folks and the earning power depends on how good your skills are in making designs people want. Definitely one of the top business ideas in Nigeria.

Furniture Making Business

Starting this business does mean you should take up woodwork. Instead, you can hire a carpenter to create impressive furniture while you handle the marketing side of the business. With the right skills, you can record high profits within a short period.

Phone Sales and Repairs Business

In big cities, many people have problems with their devices. These problems can come in the form of cracked screens, a bad mouthpiece or software issue. If you know how to repair phones, you can make huge figures from this issue. You can also sell new mobile phones by the side.

Conclusion

So, these are some of the top businesses ideas in Nigeria that will meet the needs of millions of people. However, ensure you carry out proper research before choosing any of the ideas mentioned in this article.

Posted by Abiodun Adewusi

Abiodun Adewusi is a freelance writer who lives in Nigeria. As a writer, he is passionate about providing content on technology helping people keep up with the latest trends. You can see some of his work on Medium and Ezine.

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